Bank of America has offered a new service in purpose of helping you, either to establish, rebuild, or improve your credit card. As one of the biggest financial companies to exist in America, this one proves its existence in assisting people financially. Seeing previous services being viewed as helpful, Secured Credit Card Bank of America appears not as an exception.
It is also supported by many features which also come together with the service. Moreover, these related features will, in any way, certainly beneficial for the users or cardholders of the secured credit card. Check below for information regarding them.
Features of Secured Credit Card Bank of America
One of the basic things about this service of Secured Credit Card Bank of America is that the users or cardholders are able to set their own credit limit. This is pretty much similar like those of services offered by any other issuers. However, the policy related to the minimum amount as well as the maximum amount of security deposit for each issuer is different. That being said, it is safe to say that the range offered by Bank of America is relatively high compared to others.
The minimum amount of security deposit that must be fulfilled by the applicants once they got an approval of a secured credit card is three hundred dollars. At the end of the line, the maximum amount that an applicant can pay is four thousand and nine hundred dollars. With this total amount of money, it is possible for you to use this secured credit card service in starting a small business.
A better part of this service of Secured Credit Card Bank of America is that there is a possibility of you getting a refund of the security deposit that you have paid. Of course, this will not come easy; the bank will carefully review your credit card account and the overall history of credit. It is for them to see whether or not you are qualified on getting a refund. Overall history of credit here includes all of your credits—both cards and loans.
If you want to keep in check with your credit score or FICO score you can check them out periodically by yourself. You don’t have to request it manually and wait for it to be sent to your mail post because the score is available to access using internet. With either Online Banking or Banking app of the credit card provided by Bank of America, you will receive your score monthly.
Now even with all those great features, you may worry over the security of this credit card. Well, that is not an odd thing since web phishing is incredibly often to happen. To assure you that this secured credit card service is worthy of your time, the bank blocks any potential fraud that you may accidentally stumbled upon. Also, on the brighter side, this Secured Credit Card Bank of America also give you liability guarantee of zero amounts of money for any fraudulent transactions. What a good service that they offer.